New Deal - Crypto Is Half Price Today!

I'm taking the hit and buying the dip - you only lose money if you sell the coins!!!

Fun questions while we cry together:

  • How are all our Crypto Investments going?
  • Did you sell before the crash?
  • What platform do you use?
  • What controls your decision making in the markets? (indicators/trading bots/hodl)

I have the below coins with my profit/loss, and mostly rely on buying and holding. I was up 40% overall 2 days ago, I am now only up 7%.

  • ADA (-4%)
  • ALGO (-28%)
  • MATIC (+48%)

I use swyfx, and my decision making is based on a few people around me who are very smart and much more successful in crypto investing.

Please appreciate the joke title, though now would be a good time to buy in - especially ADA imo. It'll go way up real quick. Anything under $2 is smart. Not a financial advisor.

EDIT: Picture of the day right here: https://imgur.com/a/jWpqkO9

Comments

  • +17 votes

    HODLLLLLLLLLLLLLLLLLLLLLLLLLL.

  • +3 votes

    The flash liquidation a few hours ago was the best deal this year so far. It wasn't as good as last year's bargains, but beggars can't be choosers.

    This is a second chance so don't waste the opportunity.

    •  

      What's on your radar?

      •  

        Definitely some bargains earlier. MATIC down to AU$1.7X but since has rebounded to above AU2.XX

        •  

          What makes it a bargain?

          • +1 vote

            @serpserpserp: It's grown close to 60x since Feb!

            The fact that it's down ~30+% from peak now means a great bargain.

            A coin with a great utility and team behind!

          •  

            @serpserpserp: AU1.7X And rebounded to almost AU2.80 the next day. Currently back to AU2.3X earlier in day so if you had timed it right it would have been a tidy profit from ~40% gains. It was AU3.38 last week

            Currently MATIC is offsetting my loses from this week from buying this dip and still up 28% for the week

            Another good buy would have been VET when it dipped to AU0.05. Was AU0.18 earlier today

            • +1 vote

              @cute as ducks: Are we still buying? My hands are getting tired from all this bag holding

              •  

                @AH: I won't disagree, the last 24 hours has been crazy and accelerated since 6pm. Can't wait for the yanks to dump everything further in the next few hours.

                I'll just DCA it until we pull out of this bear market. Not selling at this point at a loss I'll just hold the bags now, hopefully not for a few years but that's what I'm expecting.

                What's your plan?

              •  

                @AH: Ended up liquidating. The market is in free fall. Will reassess in a few days time or when the floor is reached. ETH dipped below US1900, Bitcoin US$32K

      • +1 vote

        ETH was a bargain at 2000. Added few for the next leg up to 1T MCAP.

  • +16 votes

    Still waiting for the rebound on my DTCH Tulips; it's gonna comeback.

    • +16 votes

      This year I invested in pumpkins. They've been going up the whole month of October, and I've got a feeling they're going to peak right around January and BANG! That's when I'll cash in!

      • +1 vote

        With 3 plants, >3 months: I got 3 pumpkins.

        All I can really do with them is make some soup. Not much of a growth strategy, even if I were to scale up.

  • +2 votes

    First started buying in January - I wiped out all my gains since then in the last 2 days basically.

    But I bought the dip overnight too - every platform I was trying was really struggling - probably shows good time to top up.

    Didn't feel worried in the slightest - big difference in attitude from the March 2020 dip with shares.

    • +1 vote

      perfectly sums up my last 6 months too. good to know someone else is here like me currently at like +5%. Honestly wish I cashed bits when I was up 300%. Could've doubled-down on my holdings but it'll always be a what-if situation.
      Oh well, I've learnt some lessons and am fortunate that my gains haven't lead me to be in a negative position now. Best of luck to everyone else, and make sure not to cash out now and crystalize losses.

      • +2 votes

        make sure not to cash out now and crystalize losses

        They gave the same advice about WorldCom, Enron, Lehmans, Bear Sterns, AIG, Bernie Maydoff.

        That is why VCs lose a lot but a few good ones make up for all the losses.

      • +1 vote

        Hopefully from now I can properly DCA in between saving for my wedding lol

        I wasn't intending on selling any crypto - its only like 10% of my net worth roughly.

        If it goes to $0 is not end of the world, would only be put back half a year of saving roughly, but if it truly moons it'll still be enough to make a significant difference to my life

    • +1 vote

      But I bought the dip overnight too

      There's a saying for this: "trying to catch a falling knife"

    •  

      every platform I was trying was really struggling

      Because there is no liquidity in a nose dive market.

  •  

    Cashed out my XRP @ $2.10 (was in @ $1.40). Once it’s south of $1 again, I’ll buy the dip.

    •  

      how much did you put in @ 1.40?

      •  

        Small time… I was only in for 500 XRP @ $1.40. About $700.

        I was buying and flipping when it was between $0.30~$0.35. a 3c swing was 10%. I stupidly sold out at about 50c thinking it would crash again back to 30c, but it kept going up. The next day it was at $1.40ish, so I bought 500 coins. It went up to over $2… I thought this is going to be the same as the $4+ prices from a few years ago, but nope, it started to fall again, so I got out at $2.10.

        I think I started with about $200, parlayed up and did lots and lots of flipping and built it up to about $700ish. Went all in at $1.40 to ride it to the moon… Seems it run out of fuel at about the stratosphere line…

        • +1 vote

          this is the way

  • +1 vote

    Elon on snl was peak bubble.
    Its game over fellas.

    • +5 votes

      I think Elon's got a lot more market manipulation left in him.

      •  

        still waiting ….

  •  

    Just ride the wave baby!

    •  

      How do you do that when it has dumped you in a sand bank?

  •  

    The more you put on the more collect.

    Also … dog 3, race 7, Wenty Park … fill up!

  • +15 votes

    Or you could look at it as it's still 1000% overpriced.

    There's nothing tangible attached to crypto unfortunately and is 100% hype.
    It's an unpredictable rollercoaster and Elon is riding it all the way to the bank.

    • +4 votes

      some cryptos are truly revolutionary technology for finance and business operations; the story it is worthless store of value is over. read up on whitepapers eth2, ADA, XLM, algorand. yes btc is worthless but some of these other cryptos are mind-boggling useful.

      • +1 vote

        DLT etc tech is evolving further undoubtedly, but yet to show any real use yet, unfortunately, still mostly hypothetical use cases and not main stream, but hopefully will get there eventually

      • +1 vote

        A trusted store of value isn't worthless.

        •  

          It is when you store nothing of value in it.

    •  

      There's nothing tangible attached to fiat either, and hasn't been for decades. Are you as fatalistic about that as you are the emerging technologies.
      Probably the same thing as when they went from tally—sticks to that new-fangled paper money that all the cool kids were getting into. :)

      •  

        I can probably make some crypto coins that you can swap that icky fiat for, let's face it, they're both basically equivalent. Let me know how much you want to spend and I'll start writing some prime numbers down or whatever format you want (a .txt file full of numbers feels like what a digital coin might be, is that good enough? I frankly don't know how any of this works, but I don't see that as a huge problem). NFT's also available, if it's just digital pictures of things, I can do that.

      • +1 vote

        There's nothing tangible attached to fiat either, and hasn't been for decades.

        B-b-buh… a government-owned printer made that paper with ink on it, so that makes it legit.

        This crypto stuff, I dunno man… I heard the hacker 4chan and the Dark Web are involved with it. Seems really sketchy.

        I prefer my currency to only be involved in maintaining a global US petrodollar hegemony that will relentlessly murder millions of people and destroy entire nations to ensure its supremacy as well as help fund dictators/terrorist groups/drug cartels; my conscience feels so much better that way.

        • +3 votes

          :-)

          Indeed , seems there's still a lot of people who don't understand where money comes from.

          https://www.youtube.com/watch?v=S_dBKAWHHQI

        •  

          So you're saying US dollar is backed by bullets and blood of others?

          Then that definitely makes it more tangible than the thousands of crypto out there.

          •  

            @pizzaofpeace:

            So you're saying US dollar is backed by bullets and blood of others?

            I'm not saying it is.

            It is. All fiat currency is backed with nothing more than threats and violence.

            America went off the gold standard and ended the Bretton Woods system in 1971 and the Western world was irrevocably changed forever.

            The only thing guaranteeing the value of US loans, bonds, stocks and currency today is the threat of violence and military action, to enforce its position as the global reserve currency and the petrodollar.

            Then that definitely makes it more tangible than the thousands of crypto out there.

            Yeah, if you're a complete psychopath dude.

            Sadly, most tax-paying citizens are essentially functional psychopaths who will never understand fiat currency, fractional reserve banking and usury for what it really is: a licence to steal tangible goods, services, labour, natural resources and land, one step above Genghis Khan's surrender-or-die policy in terms of legitimacy.

    •  

      There's over 100million people who own crypto - that's valuable.

      Nigeria, Venezuela, Iran, Zimbabwe are all countries experiencing inflation right now and we're seeing citizens of those countries flock to bitcoin.

      They are real people. That is real adoption. It's happening before our very own eyes. Crypto is sounder money than what we use currently and it will continue to be adopted and continue to increase in usage.

      •  

        Um
        Inflation is sometimes bad but at least if you have money in the bank, the interest rate should mirror it.

        As for bitcoin, how would you like to be paid on a Monday only to lose 35% of your value by Thursday because a billionaire decided to tweet something

        •  

          The amount of $ around the world increased by 25% over the last year. Did your bank give you that same interest rate?

          Dollars are guaranteed to lose value in the long run. Bitcoin isn't.

      •  

        The real Iranian on the street isn't flocking to bitcoin to save themselves from hyperinflation to buy food for their family.

  •  

    My risk appetite is much higher than most - but at the same time I've put in nothing I'm gonna be too burnt losing.

    If - or I like to think - when it all boosts back up, I'm going to be far better off than with the possible loss of the initial investment.

    Now is a fantastic time to prepare for that mortgage to be paid off in a years time.

    • +1 vote

      Lose all your money, you have an appetite but can't afford food that is all.

      • +4 votes

        An investment is an investment, you win some you lose some.

        • +3 votes

          I like how you can justify anything as an investment these days.

        • +1 vote

          Classifying crypto as an investment would be incorrect imo. It definitely follows the pattern of gambling, but is really far from investment territory.

          • +1 vote

            @DingoBilly: Shares are no longer investments then. If you can't draw a line, then why bother arguing about what is and isn't.

            Investments can fall through, they can also be a gamble. You don't have to buy into it - but you can at least appreciate why others would be.

            •  

              @fratzhaus: Exactly, investments and gambling are not mutually exclusive - look at most vc funds!

            •  

              @fratzhaus: Shares have underlying assets thus is an investment. If the same can be said about crypto then it is also an investment.

  •  

    Who is going to claim price protection on their credit card?

    •  

      better still ask for a refund @ purchase price.

      •  

        If you bought 7 days ago, is it possible to ask for refund of the difference?

  • +1 vote

    Just an FYI…Pancake Bunny (yield farming token) with a historical high of $512 …..is now at $7 … bit more than a correction going on. So glad I traded sideways last night and bought at $100 ….face palm!

    *Edit - Don't touch this, it apparently got hacked last night.

    Glad I started in Crypto late April (double face palm).

    • +1 vote

      *Edit - Don't touch this, it apparently got hacked last night.

      51% attack you mean? Those who have 51% of the processing power of the network can make changes to the network including spending coins that aren't theirs.

      Look at Elon's post about how 35% of bitcoin processing power is in China. How did they know? When power went out due to coal mine flooding in China knocked out 35% of processing capacity.

      • +2 votes

        Nope flash-loan attack on Binance.
        To add insult to injury, the attacker topped off the attack by leaving a rabbit-related pun as a note on the transaction that read “Aren’t Flashloans Earitating”.

        •  
        •  

          I'm unsure how doing this makes this person a hacker?

          Also, how do you buy bunny on binance?

          •  

            @brendanm: You dont. Setup metamask wallet, send bnb to meta, swap bnb for bunny on pancake swap.

            Its a bit of a pain to understand at first.

            •  

              @immortalbjr: That sounds like a pain to do, and sure the dip will be over before I figure all that out. Crypto sure can be a pain. Thanks for the how-to though.

              •  

                @brendanm: Then dont worry about bunny and the poocoins, setup a coinspot account to just get your feet wet. Coinspot is easy but the rates and fees are too high, move over to binance if you plan on doing more than just having a play with it.

                •  

                  @immortalbjr: I already have binance. Just wanted to get bunny after the massive dump.

                  • +1 vote

                    @brendanm: Just install metamask and read any of the coins how to buy pages to swap bnb for it. Still feel like its a good buy, I got some last night and it went up 3x, put a little more in earlier.

  • +1 vote

    Down down, prices are down!

  •  

    you only lose money if you sell the coins

    why can't you sell now and buy again at even more dip ?

    • +2 votes

      Because I do not spend enough time staring at graphs to know when something will jump, and dip.
      This is more or less a big event causing the whole market to dip, rare, and not something to just 'expect'. most of the coins are still higher than they were when I started investing, or at least heard about them, so it's not like the dip is always persisting to a specific spot, the dip just means "lower than yesterday haha".

  • +7 votes

    Bitcoin will bounce back to new ATH and people will still be comparing them to tulips lmao. Enjoy your 7% p.a. ETF gains and beating each other off about how housing is unaffordable.

    • +2 votes

      Don't forget losing the 7% gained through either inflation or debasement.

    • +4 votes

      Enjoy your 7% p.a. ETF gains and beating each other off about how housing is unaffordable.

      Oh yes, it's much more admirable to chase the speculative ponzi ecosystem. Where it's normal for assets to drop 60% in a week.

  • +6 votes

    Would like to see it all burn personally, seems like massively inefficient use of resources.

    • -4 votes

      Says the guy using an internet platform. :)

      I got the same chuckle from Musk the other day whining about BTC power usage while still spamming Twitter which uses much more power…

      •  

        Yeah I thought that…like all banking servers around the planet run off nothing! That doesn't mean we don't need to change.
        PoS is a step in the right direction.

  • +2 votes

    I decided to yolo a little cash in about a month ago. This time last week I was up about 80%. Now that's been reduced to about 20%. Easy come, easy go I guess.

    • +2 votes

      So you're still up… What's the problem lol

      • -5 votes

        +80% in a month is get rich quick territory

        +20% is like stock market sheeple. Could do that on a half day.

      •  

        …For now :`)

    •  

      What did you get a month ago that went up 80% ???

  • +2 votes

    PSA got a dodgy SMS today claiming to be from 'coinstop' to confirm my 'withdrawal' and came with a link to click. Needless to say, I didn't click the link and my account is fine but I guess the last days turmoil is bound to bring out the scumbags as well. IS you do get and texts, emails then don;t click the link that comes with them, go to your exchange page directly.

    • +1 vote

      F##$ those scumbags and scum coins are on rising…waiting for rug pull…

      •  

        People even bought a coin called scamcoin.

        •  

          People bought a coin called pregnantbutt.

          • +1 vote

            @brendanm: Lots of people bought 'pet' rocks back in the 70's too. People NEVER change. :)

            Mind you I've always avoided DOGE for the same reason but people have made squillions off it this year..

  • +5 votes

    But if you just dollar cost average your way in, then you don't even need to learn to wait for the dip right?

    RIGHT?

  • +4 votes

    Anyone down, hopefully you only invested what you were willing to lose. If so, you got nothing to lose - just ride the wave, if not today, it will bring you joy in few years (if you have invested in some decent coins like ADA, CHSB, Aave etc).

    I did the same, put in $5k in various coins (not doge coin though) and last week they were up to $30k but I am HODLER so won't sell until the profit can make difference in my life.

    DYOR!

    PS. Today they are at $22k

    •  

      won't sell until the profit can make difference in my life.

      Well whether you get rich or lose it all, that will still be 'mission accomplished'.

      •  

        Why does everyone act like people are by default putting their life savings into investments?

        Most sane people are putting in what they can lose. The idea is that if you lose it - it won't have any impact other than "damn, oh well".

        •  

          I never said that. The guy I quoted said he put in $5k of which he has the whole $5k at risk.

          • +1 vote

            @watwatwat: Edit: you implied losing 5k would make a difference in his life - that's what I referred to.

            • -2 votes

              @fratzhaus: I think it probably will.

              • +2 votes

                @watwatwat: We're talking initial investment - not current value. He put in 5k, it is now 22k, that's 17k profit.

                If it went to 0, he only lost the initial investment, 5k. Losing 5k is not life changing.

                Saying he loses 17k is not really correct, and still feeds into my point that crypto is a good investment if it can become 17k profit for a 5k initial investment.

                Anyway, no harm done.

              •  

                @watwatwat:

                I think it probably will.

                Yep, it will make me sad for a while (I even feel bad when I lose $20 note) but there will no harm done to my lifestyle (don’t we save enough from OzB).

                Having said that, my initial $5k was in 2017 so at one point it became like $1k. I forgot about this as a bad dream until crypto woke up again late last year.

                Will it crash again? Sure it will, probably not as much as it did in 2018 but it’s anyone’s guess.

  • +2 votes

    Buy ADA and DOT
    Stake it
    Wait

    That is all

  •  

    Stocking up toilet piper, pretty much half price from last year.

  •  

    Why would Bitcoin or various first generation of DLT based tokens/coins thrive beyond the current hype?